Gold prices in Bangladesh have fallen again, with the rate of 22-carat gold dropping by Tk3,324 per bhori to Tk221,966.
The Bangladesh Jewellers’ Association, or Bajus, took the decision at an emergency meeting of its Standing Committee on Pricing and Price Monitoring on Thursday morning. The new prices came into effect across the country from 10am the same day.
The latest cut comes after gold prices were reduced on Monday following two consecutive rounds of increases. With the latest adjustment, the price of good-quality 22-carat gold has fallen by Tk6,590 in two rounds.
Bajus said the price of pure gold in the local market had declined in line with falling prices in the global market. Considering the overall situation, the association fixed the new rates of gold, including VAT.
Under the revised rates, the price of 21-carat gold has been set at Tk211,993 per bhori, while 18-carat gold will cost Tk182,075 per bhori. The price of traditional-method gold has been reduced to Tk150,932 per bhori.
Bajus said the revised prices would remain effective at all jewellery outlets across the country until further notice.
The association also said customers could not be charged any additional VAT as the selling price of gold already includes VAT. However, jewellers will be allowed to charge workmanship costs depending on the design of ornaments.
So far this year, gold prices in the country have been adjusted 88 times. Of them, prices were raised 43 times, reduced 44 times and adjusted once for VAT.
Alongside gold, silver prices have also been reduced in the local market.
According to the new rates, including VAT, 22-carat silver will cost Tk4,607 per bhori, while 21-carat silver has been set at Tk4,374 per bhori. The price of 18-carat silver now stands at Tk3,791 per bhori, while traditional-method silver will cost Tk2,858 per bhori.
